Kingfisher Capital LLC Sells 342 Shares of AbbVie Inc. (NYSE:ABBV)

Kingfisher Capital LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,705 shares of the company’s stock after selling 342 shares during the quarter. Kingfisher Capital LLC’s holdings in AbbVie were worth $3,694,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of AbbVie by 314.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock worth $225,549,000 after purchasing an additional 997,441 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after acquiring an additional 623,569 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. Finally, Saturna Capital Corp raised its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $183.08 on Friday. The firm has a 50 day simple moving average of $188.44 and a two-hundred day simple moving average of $181.60. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market cap of $323.53 billion, a PE ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. AbbVie’s dividend payout ratio is 215.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ABBV shares. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $203.50.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.